Importance of Education Essay Why you need to attend education technology conferences in 2016 Essentials Of Education

If you find yourself in a lot of debt when you graduate from college, know that you are not alone. In fact, many students graduate with student loan debt and the average amount is somewhere around $30,000 to $40,000.

That is A LOT of money and you will find it difficult to wrap your head around it, especially if you do not have a job yet. Luckily for you, you do not have to start paying back your federal student loans until six months after your graduation. This means that you can look for a job and start getting paid BEFORE you have to worry about your debt.

Ready to start working on getting yourself out of debt?

  1. Identify Which Loans to Pay Off First

fsd5shg33If you have multiple loans in your name, work to identify which ones need to be paid down first. For instance, you want to pay down the ones with the highest interest rates even though they may be the smallest ones.

Interest on your loans can easily skyrocket the total cost of your loan and you will pay thousands of dollars over the course of the loan’s term.

  1. Refinance Your Loans

Refinancing your student loans is a good idea, especially if you are qualified to do so. When you refinance, you will receive a lower interest rate from the new lender and this results in thousands of dollars in savings.

The first place you will see the savings is in your monthly payment and the second place is in the length of the loan terms. For example, if you pay 6.8 percent interest now and your new lender drop the interest to 3.5 percent, you will save $10,000 or more in interest payments over the course of the loan.

Before you get too excited, you do have to apply for and be approved for refinancing, which often means you need a cosigner.

  1. Pay More Than the Minimum

One of the fastest and easiest ways to get out of debt after graduation is to pay more than the minimum amount required on your student loans. Your loan lender will send you a monthly statement that tells you how much you need to pay to keep your account in good standing. This amount is usually dragged out over 10 or 20 years.


Even if you can only afford to send in an extra $10 or $20 per month, you will find that you can cut the term of your loan in half in many cases. If you do not have the extra to send each month, send in extra when you receive a cash windfall. A cash windfall is best described as a lotto winning, a tax refund, etc.

If you have recently graduated and you are trying to get out of debt, consider the above ways to help get you out of debt quickly. You will find that if you set realistic goals and work towards them that you can get your debt paid down.


If you are thinking about taking out student loans for college, it is important that you sit down and think about your options prior to signing any contracts. Many students find themselves buried to their eyeballs in debt because they end up not paying attention to the amount that they are borrowing.

Remember, all student loans must be paid back and you are responsible for the debt, whether or not you can afford it. Below, we will go over some of the different ways that you can save yourself money on your student loan debt.

  1. Only Take Out What You Need

The first way you can save yourself money on your student loans is to only take out the amount of money you need. For example, if you are offered $5,000 for one semester, but you know you only need $3,000, do not take out the whole $5,000.


Taking out too much money is how students find themselves drowning in debt when they are out of school. That $5,000 does not seem like a lot now, but five semesters and you already owe $25,000 and likely do not even have your Bachelor’s degree yet.

  1. Exhaust Free Money Options

Before you simply apply for loans and accept them, make sure that you exhaust all free money options that are available to you. When we say free money options, we are talking about scholarships and grants.

For example, see if you qualify for the Pell Grant. Students with a financial need often qualify for this grant and you can receive up to $5,000 or more. Sometimes, depending on your program and the school you choose, you may only need to take out a small loan to finish paying off your college tuition.

  1. Pay Interest While You Are in School

The next thing you can do is pay off interest while you are in school. If you receive federal student loans, you can opt in to pay interest while you attend school or you can opt to not pay it until you start making actual payments.

To keep your costs lowered, you should pay the interest. Most interest is only a few dollars per month and no more than $50. If you can afford it, make sure you send the payments. Trust us, interest can add up to thousands of dollars over the course of your loan.

  1. Create a Budget

A budget will help you properly plan to make your student loan payments and also save money for your future. If you are working a job that does not pay a full livable salary, you will quickly find out that you have to give up some of the things you love the most to pay your debt down.

While these sacrifices may be hard, you will definitely thank yourself later for living a year or two in a tough position to not have to worry about paying your student loans when you are 40 or even 50.


  1. Make a Plan for Yourself

Lastly, you need to sit down and make a plan for yourself and this plan should include what your goals are and how you plan to save and budget. It may seem easy to make a plan, but as you get into the meat of it, you may struggle to figure out how you will pay for some bills and how you will afford to eat.

While you consider and write out your plan, think about some of your payment options as well. Federal student loans offer an income-based repayment program that structures your payments based off of the amount of income you make per year. This is beneficial for you because if you have a tough year, your payment amount could essentially be $0.

While paying down your student loans is not something you want to do, it is something that needs to be done. The above five tips will help you save as much money as possible on your federal student loans. When you do consider a loan, make sure you think about it first and evaluate your situation BEFORE you just sign the contract. Planning will help you make wise decisions.



A student loan is a great facility that young college goers can use to help

kujyhtgrfethem throughout their college time. They are available from many financial institutions and even the government. In the past students have taken many of these loans to help them in many areas during their college time.

However, unaware of them the student loans pile up and when it come to graduation, new jobs and repayment. Many people get stuck or are shocked at the payments that have to be made. This is when it is useful to get some information from iHelp Loan which will guide you to ease the burden of the student loans.

What can a student loan be used for?

Student loans are available for a variety of purposes. They include

Tuition fees

Books and study material

Extracurricular activities

Student Accommodation

The student who takes the loan has to have the college sign off on the loan application to ensure its genuine.

How student loan consolidation can help

It has been observed that the student loan debt is increasing each year and on average a student who graduates today has a debt of approx $35,000. This amount keeps growing each year, due to the rise in the cost of education. However, there are many benefits that new graduates are not aware of. There are some tax benefits that can be taken advantage of for students if their parent though ahead and these are known as 529 plans.

Many do not realize that they can actually start a 529 plan for themselves. If you plan on going back to school to take up a new course or complete some studies, you can start saving tax free.


mnbtgvfeOverall, there is no doubt that education is very important to everyone. It does not matter what your area of interest is, getting more knowledge in that particular area will open more doors for you and give you more opportunities to advance in your life.

Student loan consolidation and 529 plans are great ways to reduce the financial burden on yourself so that your do not have to stress about paying a loan and can instead focus on your studies and work so that you can achieve your goals in life.


There are many benefits available to students out there. The economy is not the best in present times, and therefore, we should look for ways to reduce the pressure and focus on the more important things in life.



Money, credit, loans and education all these are all too familiar to many people as they start to work in their new found jobs after graduating from college. The fact remains that education is not a cheap affair, and when it comes to paying back all the student loans taken out during college, it can be cumbersome and turn out to be a headache.

How can one get over the situation of having to pay multiple repayments for the many loans taken and not miss a single one? The answer is simple, and it is with student loan consolidation.

Student Loans

All around the US, the cost of education is rising, and it has been doing kujyhtgfrso the last decade or more. Many young people who have graduated from college are starting new careers with a debt that has to be paid. Often, most students take small loans during various times in their student life.

Keeping track of these loans can be very difficult as most of them are little amounts and will have to be paid on different days. In such a case it would be great to use a consolidation and payoff calculator to try and ascertain how loan consolidation can make your life much easier as far as the repayments are concerned.

What is student loan consolidation?

Student loan consolidation, in essence, is when you take one big loan and pay off all the small ones you have taken during your college period. Taking one such loan has multiple benefits.

Pay only one repayment installment

In this case, you do not have to deal with multiple small payments. You can keep track of the loan through one monthly repayment and not miss a single month.

Better interest rates

In the past banks may have given out loans on higher interest rates and in the present competitive environment, you can take advantage of a much lower rate. In this way, you will actually pay less.

kujyhtgrfReschedule the loan

When you take out one loan to settle your student loans, you will get a new repayment schedule. This can be a lot easier on your purse as you are just starting your careers and may have other commitments too.


Overall, student loan consolidation is a great way to reduce your burden of the loans and make it easier for you to keep track of your payments. It is a well-accepted way of also keeping your credit score intact.